Computing correlation can be time-consuming, but software like Excel makes it easy to calculate.

The correlation function will ask for two rows of data from two identical timeframes. Input, click ok and voila—correlation coefficient. The correlation coefficient is a number between 1 and -1.

Reviewed by Thomas J. Catalano Fact checked by Vikki Velasquez You can calculate the correlation coefficient to find the correlation between any two variables, whether they are market indicators ...

Microsoft Excel, the widely used spreadsheet software, can be helpful for statistical analysis, with its built-in functions and free add-in tools.